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LG executive James Fishler, speaking at an event in New York, touted it as one of the most powerful and fastest smartphones yet.

The Optimus G, which was announced earlier in South Korea, is the first phone to use Qualcomm's Snapdragon quad-core processor. The phone is positioned as a flagship device for LG, but it remains to be seen how enthusiastically the carriers will push the device. LG declined to comment on a specific launch date or potential carrier partners.

Thanks to its speedy processor, the Optimus G allows users to pinch-and-zoom high-definition video, as well as run multiple tasks at the same time.

The Optimus G, however, faces a lot of competition, from Samsung Electronics' Galaxy S III to Apple's iPhone 5. Meanwhile, HTC has an event scheduled for later today.

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About the author

Roger Cheng is the executive editor in charge of breaking news for CNET News. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade. He's a devoted Trojan alum and Los Angeles Lakers fan.
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